Aluminum cans market to exceed $70 billion by 2032

According to projections, it is estimated that by 2032, the aluminum cans market will reach US$70.1 billion at an annual growth rate of 2.9% in the period from 2024 to 2032. This is according to the recent report issued by IMARC Group, entitled “Aluminum Cans Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2024-2032”. This document analyzes the world market for aluminum cans and provides forecasts for the coming years.

According to the report by 2023, the value of the global aluminum cans market reached $53.9 billion. However, according to projections made by IMARC Group, this is expected to reach US$70.1 billion by 2032, representing an average annual increase of 2.9% during the period from 2024 to 2032.

Several elements influence the development of the aluminum packaging industry, such as market demand, production costs, government regulations and increased competition. All of these factors can impact both negatively and positively on the growth of this particular industry.

Sustainable aluminum

Sustainability and the importance of protecting the environment are issues that people are increasingly concerned about.
The document also highlights that the aluminum can market is experiencing growth due to this environmental concern, since aluminum recycling is highly efficient, as it can be recycled indefinitely without losing quality, thus reducing the energy required to produce it from bauxite and reducing greenhouse gas emissions.

The recyclability awareness of aluminum cans pushes consumers and manufacturers to choose this product over plastic packaging.

Canned beverages
Increasing global beverage consumption has been a major factor driving the demand for aluminum cans. The beverage industry, which includes everything from soft drinks to energy drinks, alcohol and water, relies heavily on aluminum cans for packaging. Aluminum cans are the preferred choice for consumers with active lifestyles because of their portability. In addition, their inherent properties such as light weight and corrosion resistance make them ideal for maintaining the quality and freshness of beverages over long periods. The report notes that this is especially important in regions with long supply chains and variable climatic conditions. In addition, the trend towards premium products in the beverage sector, where consumers are looking for high quality products with an attractive design, has led to innovations in can design and printing.

Attractive designs

IMARC Group also argues in its report that aluminum cans have great versatility in their design, allowing brands to differentiate their products with innovations in reusable cans with special coatings and textured finishes, which not only improve the product’s functionality but also its aesthetic appearance. For example, reusable cans are convenient for consumers as they allow them to keep their beverages fresh for longer and are easy to transport. In addition, the ability to print high-definition graphics and detailed designs on aluminum cans provides a powerful marketing tool for brands, making it appealing to the consumer and reinforcing brand identity.

The market is experiencing increased growth due to the widespread use of aluminum cans as a packaging option that offers protection against UV rays, oxygen and other contaminants, which helps maintain product quality and shelf life. In addition, rising prices of competing packaging materials such as plastic and glass have made aluminum cans more attractive to consumers. Also contributing to this growth are government regulations aimed at reducing the use of plastic and encouraging recycling, thus promoting the adoption of aluminum cans.